Real estate listings are presently handled by a Multiple Listing Service (MLS) Regional information system. This MLS system is designed for the use of Real Estate Professionals who currently retrieve real estate information from this system to service their customers. The MLS system is a Multiple Listing Database that includes residential, multifamily, commercial, and land real estate listings for the purpose of buying, selling or leasing those properties through a central database.
However, at the present time, even though consumers are increasingly depending on the Internet to locate and purchase property, a system is not available or capable to process automated real estate transactions for the public. Furthermore, the current MLS Regional information system is only meeting minimal needs for real estate professionals.
Therefore, a web-based real estate system and methods are needed to provide buyers, sellers, and agents with the tools and services necessary to facilitate a real estate business transaction.